extending the $600 unemployment benefit through the end of the year. It was easy for the Rs to say that wouldn't happen a couple of weeks ago when they thought they had outsmarted the virus by forcing states to reopen. It won't be so easy as we continue to lose jobs at the rate of 1.5-million a week and COVID cases jump 15% in a single week, with more on the way.
But what will force the Rs hand will be the threat of massive closures of small businesses. Businesses are being forced to close after reopening due to staffs being infected with the virus. Many only survived the first shut down due to government aid. If no further aid is coming, they are history, along with millions of jobs being permanently lost. If Rs want help for businesses, they need to negotiate that with Ds, who will insist on extending UI benefits and other extensions and additions to the CARE Act that are present in the legislation they already passed.
Finally, economists - real economists, not the ones employed by the Rs and the WH - are already urging the Congress to provide more massive aid to people, lest the economy collapse.
Some compromises will be made - perhaps the $600 weekly Fed UI benefit gets cut to $400 - but more money will be forthcoming because it has to be.
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